3048 N Lake Terrace, Glenview, IL 60026

Building Details

Building Size 84,825 SF More

Units 5 More

Listing Agency: Coldwell Banker Realty

Listed By: Sheryl Fisher · License #475168539 Show Phone

Source: Commercialcafe

Added: Sep 21 Changed: Nov 5 Last Checked: Nov 8 at 2:19AM

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Investment Insights

Based on property information with market context.

This light industrial flex complex encompasses 84,825 SF within approximately 4 acres. The property is fully leased and includes tenant parking and signage, with upcoming space identified for an owner-user. Its scale and industrial configuration support both investment ownership and future occupancy planning.

Located at 3048 N Lake Terrace in Glenview, the complex sits adjacent to The Glen and between Willow Road and Lake Avenue. Highway access is nearby, providing a practical transportation connection for tenants and visitors.

Key Highlights

• 84,825 SF light industrial flex complex
• Located within 4+/- acres
• Fully leased with upcoming space for a user

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$365,143

Cap Rate

6.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,302,860 $7.3M

Cap Rate 7%

$5,216,329 $5.2M

Cap Rate 9%

$4,057,144 $4.1M

Is this asking price fair?

Market Conditions

NOI Build-Up for 84,825 SF

Gross rent

$549.7K $6.48/SF

− Vacancy

−$28.0K −$0.33/SF

EGI

$521.6K $6.15/SF

− OpEx

−$156.5K −$1.84/SF

NOI

$365.1K $4.30/SF

Area

Cook County, IL

Vacancy

5.10%

Lease Rate

$6.48 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$7,302,860

Cap Rate 7%

$5,216,329

Cap Rate 9%

$4,057,144

Alternative Uses

Best Use

Flex RnD

$12.76M

$11.17M – $14.89M (±1% cap)

NOI $893,207 @ 7.0% cap · market cap 16.24%

Second Best

Industrial

$5.22M

$4.56M – $6.09M (±1% cap)

NOI $365,143 @ 7.0% cap · market cap 6.64%

Theoretical Best

Office A

$32.57M

$28.50M – $38.00M (±1% cap)

NOI $2,280,096 @ 7.0% cap · market cap 41.46%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Ruck Up Sports ... Training Center BioMeasure/Glenview Health Systems Corporate Office B.yond Physical Therapy Medical Clinic JW Performance Gym & Fitness Center MSF PERFORMANCE Gym & Fitness Center

Suggested Use

Top Pick Restaurant Building Supply Law Firm Hair Salon Big Box & Wholesale Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

506

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 60026, IL

14,518

Population

5,932

Households

2.4

Avg Household Size

49

Median Age

68%

College-Educated

97%

High-School Grad

4.1 sq mi

ZIP Area

3,541

Density / Sq Mi

$157,712

Median Household Income

$97,530

Median Earnings

$1,983

Median Rent

$663,100

Median Home Value

Market

Average Price Trend$/SF for Flex space in Cook County, IL

$142 Jul

$145 Aug

$143 Sep

$150 Oct

Properties on Market for Flex space in Cook County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Fully leased flex property with tenant parking, signage, and future user space.

Where is this flex space located?

The property is located at 3048 N Lake Terrace Glenview, IL.

What is the asking price?

The asking price for this property is $5,500,000.

What are key features of this property?

This property features: 84,825 SF light industrial flex complex; Located within 4+/- acres; Fully leased with upcoming space for a user